Websense has been the subject of acquisition rumors for years and it's finally found a way to cash out: a private equity deal lead by Vista Equity Partners.

The company said Monday Vista Equity Partners was acquiring the company for $24.75 per share in cash, a 29% premium over Websense's May 17 closing price of $19.23. That's also a 53% premium over Websense's average closing price over the last 60 days.